On 16 Feb 2026 Qube Holdings Ltd (ASX: QUB)  announced  that it entered into a Scheme Implementation Deed under which a consortium led by Macquarie Asset Management agreed to acquire all the issued shares of QUB by way of a scheme of arrangement for cash consideration of $5.20 per share (less any dividends paid).

The scheme booklet can be found here.

The scheme is still subject to shareholder and court approvals.

If approved, QUB shareholders will receive $5.20 (less any dividends paid) for each QUB share held on the scheme record date. QUB will subsequently be delisted from the ASX.

The indicative timetable (from the ETO’s perspective) is:

Scheme of Arrangement Termination Implications for QUB ETOs

According to the terms of the scheme, QUB shares will cease trading after the scheme becomes effective.  ASX has consulted ASXCL and has determined to terminate all QUB ETOs contracts by cash settlement at the intrinsic value with the QUB reference price to be ASX closing price for QUB on Friday, 19 June 2026.

Option positions held at the close of business on Friday, 19 June 2026 will be closed out and cash settled at the intrinsic value. Takers will be credited and writers debited. The intrinsic value method is equivalent to the expiry of the options effectively brought forward to the last day of trading of the underlying security and cash settled. ASXCL will settle these cash amounts on the next business day – Monday, 22 June 2026.

Exercise Restriction

An exercise restriction will be placed on QUB ETOs on the last day of trading on the ASX - Friday, 19 June 2026.

Series Removal and Listing Restriction

Ahead of the corporate action ASX Clear may suspend or delete any existing series without open interest. ASX Clear may also restrict or suspend the listing of series with new maturities in QUB ETO’s.

What do I need to do by when?

Participants to be aware of the adjustment method in QUB ETO contracts as a result of the proposed Scheme of Arrangement.

Need more information?

Issued by

Greg Fitzpatrick, Senior Manager, Clearing Operations

Contact information

ASX Clearing Operations

clearing@asx.com.au  

Disclaimer